Indonesian Regulators Give Trading Licence To Indodax Exchange

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Ritika Sharma
Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.
  • The Indonesian based cryptocurrency exchange Indodax has formally registered with the Indonesian Commodity Futures Trading Supervision Board (BAPPEBTI).
  • BAPPEBTI is the Indonesian government subsidiary for Cryptocurrency regulation, Blockchain, and digital asset regulatory bodies.
  • Indodax works with customer efficiency practice and features its trader’s ease of user interface.

The Indonesian based cryptocurrency exchange Indodax has formally registered with Indonesian Commodity Futures Trading Supervision Board (BAPPEBTI) and has obtained a licence to do the further trading and exchange.

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BAPPEBTI is the Indonesian government subsidiary for Cryptocurrency regulation, Blockchain, and digital asset regulatory bodies. The main aim of BAPPEBTI is to favor the investor’s interests and provide proper regulations and guidance to exchange start-ups.

The local transaction on Indodax was also made available in the signing of the new licence along which the BAPPEBTI provides risk control management, resource allocation, and Infrastructure operational requirements.

There are more than 2 Million registrations of investors and traders on the Indodax exchange platform. Now the investors have the option to invest in the Digital assets and futures other than gold and commodities.

Indodax asserted that they are the only Blockchain start-up in Indonesia with two ISO certificates and standards, which are ISO 9001 standard for quality management and the ISO 27001 standard for information security.

The indodax trading platform was previously known as Bitcoin.co.id. In the previous year, the Indodax platform claimed to have listed 54 coins and 65 trading pairs active on its exchange with 2 Million active traders taking part in the exchange activities of the claimed listed assets.

Indodax works with customer efficiency practice and features its trader’s ease of user interface. The new registers can easily buy assets and coins within one hour of purchase using the local currency IDR.

The Indodax trading volume is gliding at the value of $6,649,409, and also is trying to gamble against Bitcoin at the market value of 703.35670617 BTC.

As Bitcoin is the top-performing coin on the Indodax exchange, the BTC/IDR trading pair has a market capitalization of $1,822,057 and a 24-hour trading volume of 27.40%. The value of its liquidity stands at $472,940.

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